SunPower Corporation (SPWR) Faces Securities Fraud Lawsuit Over Fraudulent Accounting - Hagens Berman

  • Grand News Network
  • November 7, 2023

SAN FRANCISCO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges SunPower Corporation (NASDAQ:SPWR) investors who suffered substantial losses to submit your losses now.  

Class Period: Mar. 9, 2023 – Oct. 24, 2023
Lead Plaintiff Deadline: Dec. 26, 2023
Visit: www.hbsslaw.com/investor-fraud/SPWR
Contact An Attorney Now: SPWR@hbsslaw.com
844-916-0895

SunPower Corporation (NASDAQ:SPWR) Securities Fraud Class Action:

The complaint alleges SunPower made false and misleading statements and failed to disclose that: (1) due to a material weakness in internal control over financial reporting, it inaccurately reported cost of revenue and inventory metrics; and (2) as a result, the company was reasonably likely to incur significant charges to restate prior financial reporting.

Investors learned the truth on Oct. 24, 2023, when SunPower admitted that "the value of consignment inventory of microinverter ...

Full story available on Benzinga.com


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